The next big breakout: Natural Gas?

Natural gas positioned for bullish breakout from falling wedge

E-mini natural gas futures are set up for a big bullish breakout from a falling wedge on the monthly chart. A decisive push above the wedge downtrend line and September high near 3.35 would confirm the wedge to suggest more upside to 4.76-4.89 (38.2% retracement of the August 2022-February 2024 decline and March 2025 wedge peak) and then to 5.76-6.00 (50% retracement and measured move). Until then, support rests at the wedge lows near 2.85–2.62, aligned with the 61.8% retracement of the February 2024–March 2025 rally.

Chart 1: E-mini natural gas futures continuous